OIP develops, manufactures and supports electro-optical products, mainly for the defense and space markets. The company employs about 50 workers, and has established long-term relationships with customers in Belgium, other European countries and international customers, Elbit Systems says.

According to Elbit Systems, the acquisition will allow it to provide enhanced access and support to its European customers.

Elbit Systems president and CEO Joseph Ackerman noted, "The acquisition of OIP is in line with our strategy of growth through mergers and acquisitions of complementary companies with high synergistic value. I believe that OIP will significantly enhance our business base in Europe, expand our cooperation with other European industries and provide better support to our customers in NATO and other European countries."

In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content